Assistant Vice President - Finance Operations

Job title:

Assistant Vice President - Finance Operations

Purpose Of The Role

• This role is within the Reporting Operations capability, Liquidity Reporting vertical. Liquidity Reporting is a vital component in assessing the bank’s vulnerabilities, determining liquidity and funding risk through various Basel metrices and thereby the resilience of the bank through improved risk management. As such, the role holder will operate within one of the most complex Finance and Risk management processes within the bank, with results driving liquidity positions & requirements and the potential to affect our reputation, curtail dividends and impact the share price. Liquidity Reporting is a strategic and regulatory priority with ever increasing expectations.
  

Key Responsibilities Include

• To produce and review Liquidity reports, which includes Liquidity Coverage Ratio (LCR) report, Net Stable Funding Ratio (NSFR) report, Prudential Regulatory Authority 110, Internal Liquidity Metric (ILM), Additional Monitoring Metrics (AMM) report, ALCO packs and other liquidity reports (i.e. Depositors Conc, Term Funding).
• The process involves liaising with in-country teams and therefore requires good verbal and written communication skills. The role requires good understanding of (1) financial products, (2) market product specific knowledge and (3) financial /management reporting (with balance sheet focus), as well as an ability to develop an understanding of the various regulatory frameworks including Basel III
• The role is also accountable for implementing new reports as per group framework and also for ensuring adherence of reports to the guidelines and minimum control requirements set out by Risk Stewards.
• Escalating issues and risks to senior stakeholders/team leads on a timely basis
• Understanding and documenting clear basis of preparation for each aspect of the reporting process
• Potentially required to manage team/direct reports/graduates and oversight of their training and review work produced
• This role will be required to support either a regional or group reporting operations lead and is part of HSBC’s commitment to enhancing the control environment and rigour around regulatory reporting.
• We encourage diverse profiles to apply for this role to create an inclusive workplace. We believe that a good working environment values the individual and group differences within its work force. It enables us to embrace the diversity of backgrounds and perspectives of the employees, which in turn increases their talent, innovation, creativity and contributions.
  

Governance and Committee Memberships

• The role holder will be part of the Regional/Group Reporting Operations team and may be required to act as delegate for peers/team leads as required. This role will not be required to be an acting member of any specific governance forums.
  

In This Role, You Will

Accountabilities for Business, Customers and Stakeholders

• Production of accurate, complete and timely Liquidity Risk reports for respective regions/group, including Liquidity Coverage Ratio (LCR) report, Net Stable Funding Ratio (NSFR) report, Additional Monitoring Metrics (AMM) report, ALCO packs etc.
• Develop a good understanding of liquidity reporting systems (i.e. Moodys, Finarch and Big Data) and assess impact of changes on systems due to business and reporting changes
• Analyse and interpret data to provide meaningful analysis to facilitate business decision-making
• Review data and validate leveraging an understanding of the business’ performance
• Write commentaries/reports to support the assurance process
• Identify opportunities for development and drive change/process improvement – focusing on driving efficiencies and enhancing controls
• Co-ordinate and work-closely with global teams, across Finance – use of performance standards (SLAs) and continuous feedback to ensure outputs meet expectations
• Establish and maintain effective relationship with business areas/key stakeholders and identify areas of service improvements by implementing regular calls and feedback mechanism
• Influence and escalate key reporting issues in an effective way to ensure timely resolution
  

Leadership & Teamwork

• Effective team work and collaboration across Finance and HSBC
• Ability to work independently and seek inputs from team leads/peers when face challenges
• Ability to generate ideas/develop solutions when faced with challenges
• Manage time effectively to enable adequate time available for personal development (i.e. training)
• Seeks feedback regularly to understand development areas – work with line manager to develop personal development plan
• Communicate effectively with the team members and be a team player
  

Operational Effectiveness & Control

• Adherence to Group policies, audit, controls, and compliance requirements including
• To continually assess the operational risks inherent in the processes, taking account of changing operating procedures, staff movements, legal and regulatory requirements, management restructures, and the impact of new technology
• Effectively manage change, plan business contingency and achieve cross-training
• Ensure process documentation and procedure notes are in place and updated regularly – these should contain procedures to meet minimum control requirements
• Ensure assurance process to validate completeness and accuracy of outputs are well understood and documented
  

Major Challenges

• The increasing burden of new financial and disclosure requirements, as well as a number of large and complex corporate transactions, and being able to apply accounting principles to data to ensure accurate and complete outputs are produced.
• Enhanced focus on a strong, and automated (where possible) control environment, that is preventative as opposed to detective, surrounding those processes to deliver defined outputs.
• Managing conflicting demands/priorities (including cost pressures) while motivating large and diverse teams.
• Ability to explain complex technical concepts in simple terms to a variety of stakeholders
• Broad role encompassing all customer groups, business lines and risk categories as well as a wide range of regulatory requirements.
• Ensure that potential risk areas are accurately recognised and provide assurance that solutions are delivered in a timely, concise manner, the jobholder needs to have independence of thought and lateral thinking
  

Management of Risk

• To ensure procedures comply with Sarbanes Oxley and Finance Functional Instruction Manual (FFIM).
• All procedures are in line with GSM Chapter 3 (Finance).
• The jobholder will also continually reassess the operational risks associated with the role and inherent in the function and take action to remediate/mitigate risks as required.
• This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring, and also by addressing any areas of concern in conjunction with line management and/or the appropriate functions.
  

Observation of Internal Controls

• Maintains HSBC internal control standards, including timely implementation of self-identified and internal audit points together with any issues raised by external regulators.
• Jobholder is an ‘insider’ for dealing purposes and subject to strict controls and confidentiality.
• Complies with Group Finance Functional Instruction Manuals and Group SOX requirements and enforces reporting sites’ compliance with certain areas of the required internal controls.
• The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
• The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
• This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.
  

To Be Successful You Will

• Qualified CA (Chartered Accountant), MBA (Finance) or Engineering degree with interest in Financial Services
• Understanding of how to review large data sets and draw out strategic insights as well interpret data and identify trends/anomalies particularly in the context of business, macro-economic or Regulatory drivers, as well as the ability to work quickly & accurately to tight deadlines
• Knowledge and/or interest in Asset Liability Management, FSA Reporting and relevant regulatory changes in a global environment advantageous
• Understanding of control frameworks and how to implement effective controls in practice.
• Strong attention to detail and being solution oriented
• Strong communication skills (both oral and written) and an ability to communicate complex ideas in a simple manner to a global audience
• Excellent planning and organisational skills with ability to adapt to changing situations and to understand issues quickly
• Excellent working knowledge of MS related products i.e PowerPoint, Excel.
• Working knowledge of Banking systems and understanding of relevant regulatory reporting framework preferred but not essential
• Good understanding of financial products and general accounting principles, and more generically the banking business, balance sheet and income statement preferred but not essential
  

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